Michigan HB4660 allows public school employees to name a special needs trust as a beneficiary for their retirement allowance.

Michigan HB4660 amends the state's public school employee retirement system to allow a retirant to name a special needs trust as a beneficiary for their retirement allowance. This change enables the retirement system to pay the allowance directly to the trust, ensuring the funds are used for the retirant's benefit in accordance with the trust's terms. The bill specifies that the trust must be established under certain sections of the federal Social Security Act.

Michigan HB4660 allows public school employees to name a special needs trust as a beneficiary for their retirement allowance.

Michigan HB4660 amends the state's public school employee retirement system to allow a retirant to name a special needs trust as a beneficiary for their retirement allowance. This change enables the retirement system to pay the allowance directly to the trust, ensuring the funds are used for the retirant's benefit in accordance with the trust's terms. The bill specifies that the trust must be established under certain sections of the federal Social Security Act.